BH Global receives in-principle approval for share consolidation

MAINBOARD-LISTED BH Global on Wednesday received in-principle approval from Singapore Exchange (SGX) to consolidate every four existing ordinary shares into one ordinary share.

This means the marine products firm will be able to comply with the S$0.20 minimum trading price rule, which is a continuing listing requirement of all SGX mainboard-listed securities.

The listing and quotation of up to 120 million consolidated shares have been approved.

This is subject to shareholders' approval at an upcoming extraordinary general meeting.